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The global healthcare BPO market was valued at US$ 25.72 Billion in 2021.
We expect the global healthcare BPO market to exhibit a CAGR of 9.10% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic has led to the increasing demand for healthcare BPO strategy for medical coding and billing as well as data and claim processing, that allows healthcare providers to treat the coronavirus-infected patients more efficiently.
The rising instances of data breaches, along with the growing adoption of BPO strategy for verifying insurance plans, filling, claiming, examining codding errors, and ensuring data security, are primarily driving the global healthcare BPO market.
Based on the payer service, the global healthcare BPO market has been categorized into human resource management, claims management, customer relationship management, operational and administrative management, care management, provider management, and others. Among these, claims management currently holds the majority of the total market share.
Based on the provider service, the global healthcare BPO market can be segmented into patient enrollment and strategic planning, patient care service, and revenue cycle management. Currently, revenue cycle management exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global healthcare BPO market include Accenture plc, Cognizant, GeBBS Healthcare Solutions, Genpact, International Business Machines Corporation, IQVIA, NTT Data Corporation, Omega Healthcare, Parexel International Corporation, Tata Consultancy Services, WNS (Holdings) Limited, and Xerox Corporation.
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